Bitcoin might soon break new all-time highs as the 'Bird Beak Sign,' a new technical indicator, appears on its Heikin Ashi chart. This pattern, highlighted by Trader Tardigrade, suggests an imminent rally, consolidating optimism among crypto enthusiasts.
'Trader Tardigrade' draws parallels to past patterns, noting how previous Bird Beak signs have preceded notable price increases. Historical data shows these patterns led to Bitcoin surges, with recent occurrences pushing prices to $23,250 and $52,000 in early 2023 and February 2024, respectively.
The latest formation of this Bird Beak sign, as of October 27, 2024, could potentially boost Bitcoin prices to $114,000. Other technical chart formations, like the Symmetrical Triangle noted by Tardigrade, further align with a possible ascent towards a $71,000 target first.
Backed by another expert, 'Titan of Crypto,' this bullish sentiment anticipates Bitcoin rising to $71,000 before the end of the month. Current prices reflect a 1.3% increase from the last 24 hours, underscoring the momentum highlighted by these analysts.
